Union Pacific (UNP) Tops Q3 EPS by 8c, Revenues Beat
Union Pacific (NYSE: UNP) reported Q3 EPS of $2.15, $0.08 better than the analyst estimate of $2.07. Revenue for the quarter came in at $5.93 billion versus the consensus estimate of $5.86 billion.
- Diluted earnings per share of $2.15 increased 43 percent.
- Operating income totaled $2.3 billion, up 9 percent.
- Operating ratio of 61.7 percent, flat with third quarter 2017
Union Pacific Corporation (NYSE: UNP) today reported 2018 third quarter net income of $1.6 billion, or a third quarter record $2.15 per diluted share. This compares to $1.2 billion, or $1.50 per diluted share, in the third quarter 2017.
"While we reported solid financial results, we did not make the service and productivity gains that we expected during the quarter. However, we are making progress implementing our new Unified Plan 2020 and we are well positioned to drive improvement going forward," said Lance Fritz, Union Pacific chairman, president and chief executive officer. "I am confident we have the right people and plans in place to improve our operations, provide more reliable service for our customers, and achieve industry-leading financial performance."
"Looking ahead, I am confident that the recent progress we have made on our Unified Plan 2020 will accelerate in the near term. As we move forward with its implementation, along with other G55 + 0 initiatives, we will regain our productivity momentum and improve the value proposition for all of our stakeholders," Fritz said.
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